Exhibit 12



                     SCHERING-PLOUGH CORPORATION AND SUBSIDIARIES
                  COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
                               (Dollars in millions)

                                                 Year Ended December 31,           
                                            1994      1993      1992    1991    1990  
                                                               
Income Before Income Taxes . . . . .    $1,213.2  $1,078.4    $953.9  $860.8  $768.9    
   

Add : Fixed Charges
  Interest Expense . . . . . . . . .        56.2      48.2      55.4    65.3    82.4    
   
  1/3 Rentals. . . . . . . . . . . .         9.6       9.0       8.5     7.9     7.7    
   
  Capitalized Interest . . . . . . .        11.4      12.7      15.8    11.8     6.3    
      
    Total Fixed Charges. . . . . . .        77.2      69.9      79.7    85.0    96.4    
    

Less: Capitalized Interest . . . . .        11.4      12.7      15.8    11.8     6.3    
   
Add : Amortization of
 Capitalized Interest. . . . . . . .         4.1       3.5       4.1     4.0     3.8   

Earnings Before Income Taxes and
 Fixed Charges (other than
 Capitalized Interest) . . . . . . .    $1,283.1  $1,139.1  $1,021.9 $ 938.0  $862.8   

Ratio of Earnings to Fixed Charges .        16.6      16.3      12.8    11.0     9.0  


"Earnings" consist of income before income taxes and fixed charges (other than
capitalized interest).  "Fixed charges" consist of interest expense, capitalized
interest and one-third of rentals which Schering-Plough believes to be a reasonable
estimate of an interest factor on leases.